Member Article

Online mortgage broker Trussle raises £4.5m funding

London-based online mortgage broker Trussle has announced it has received financial backing to the tune of £4.5m from some top global FinTech investors.

The funding round has been led by Orange Growth Capital, which has previously invested in Zoopla, with support from previous investors LocalGlobe, Zoopla and Seedcamp, who each contributed to the firm’s £1.1m seed round back in February last year.

Launched in 2015, Trussle is one of the first companies to offer online mortgage broking through its automated platform which is able to monitor and track thousands of mortgage products across 90 different lenders.

Since then the FinTech firm said it has now handled over £1bn-worth of mortgage on behalf of UK homeowners, which founder, Ishaan Malhi, believes is a ‘validation’ of their digital approach.

He commented: “Since launching Trussle back in 2015, we’ve been overwhelmed by the scale of the movement we started.

“We’re helping thousands more customers every month, have signed several high-profile partnerships that allow us to reach over 90% of the home-owning population, and now manage £1billion worth of mortgages on behalf of UK homeowners.

“All together it’s validation that we’ve uncovered a real consumer problem, and the technological innovation we’re starting to see from new entrants, as well as traditional brokers, suggests our innovative approach is having a real snowball effect.”

Radboud Vlaar, Partner and Founder of Orange Growth Capital, who joins Trussle’s board, said the investment firm was ‘excited’ to be investing in mortgage broker and hailed the UK’s world-leading FinTech sector.

He said: “This investment reaffirms the innovation taking place in the UK’s fintech market. We look forward to working with Ishaan and his team in taking the business to the next level.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →